SHANGHAI, Sept 27 (Reuters) - Shanghai shares fell on Monday
as recent power curbs began to weigh on economic outlook, while
energy and consumer staples led Hong Kong stocks higher.
The Shanghai Composite Index lost 1.3% to 3,565.94
by the end of the morning session, while the CSI300 index
rose 0.3% to 4,861.58.
The Hang Seng index added 0.3% to 24,259.75. The Hong
Kong China Enterprises Index was unchanged at 8,604.72.
** The energy sub-index dropped 1.6% amid
intensified power crunch in recent weeks. Beijing has vowed to
resolve supply shortages and curb price rises as the peak winter
consumption season approaches.
** The power curbs caused by Beijing's carbon emission
targets and surging coal prices and coal shortages have
disrupted production in some companies, sending their share
** Power-intensive sectors resources,
non-ferrous metals, chemicals dropped
** "The power crunch has prompted us to further cut our
year-on-year Q3 and Q4 GDP growth forecasts to 4.7% and 3.0%,
respectively, from 5.1% and 4.4%," Ting Lu, chief China
economist at Nomura, said in a note.
** Consumer staples surged 5.2% ahead of the
week-long National Day holiday starting from Oct. 1, which has
traditionally been a peak season for consumption.
** The Ministry of Commerce said China would ensure
sufficient market supply with rich varieties and stable prices
during the National Day holiday, state media CGTN reported on
** In Hong Kong, energy and consumer staples
led the gains, up 1.7% and 1.4%, respectively.
** China's state-run oil and gas major CNOOC Ltd
jumped 5.7% on its Shanghai listing plan, making it the biggest
gainer on the Heng Seng Index.
** China Evergrande's electric car unit plunged
more than 10%, after it warned it faced an uncertain future
unless it got a swift injection of cash and after it said it
would not proceed with plans to issue RMB shares.
(Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)